Caledonia, Michigan Property Taxes
The median property tax rate in Caledonia, MI is 1.12%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Caledonia at $327,000, the typical annual property tax bill reaches $3,835, exceeding the national median of $2,690. Property taxes in Caledonia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Caledonia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Caledonia or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caledonia, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$3,662
Ownwell’s Caledonia Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Caledonia with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Caledonia to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by Allegan County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Caledonia, Michigan
Property taxes in Caledonia, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 1.12%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caledonia estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Caledonia's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49316 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Caledonia provides valuable insights into the varying tax landscape across Allegan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
1.12%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | 0.76% | 0.92% | 1.12% | 1.33% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Michigan
In Caledonia, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Allegan County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Caledonia, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Caledonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Caledonia is $327,000, with the highest median tax bill of $3,835 in the 49316 zip code.
Average Caledonia Assessed Value
$327,000
Average Allegan County Assessed Value
$229,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $155,440 | $253,400 | $327,000 | $473,150 | $707,300 |
Source: Ownwell
Property Tax Bills Across Caledonia, Michigan
In Caledonia, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $327,000, the assessed value would be around $163,500. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within Allegan County and any applicable exemptions or deductions. Homeowners in Caledonia can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $2,685, while the 75th percentile reaches $5,184, and the 90th percentile climbs to $7,712. Comparatively, the highest and lowest median tax bills in the area are both $3,835, found in the 49316 zip code. These property taxes play a crucial role in funding local services and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Caledonia Tax Bill
$3,835
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $1,650 | $2,685 | $3,835 | $5,184 | $7,712 |
Source: Ownwell